201105090 - Laserfiche WebLink

Browse

r; _ �"fi 18. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may invoke the �wer of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies under this paragraph 18, including, but not limited to, reasonable attorneys' fces and costs of Htle evidence. If the �wer of sale is invoked, Trustee shall rec:ord a notice of default in each county in wluch any part of the Property is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. After the time r�uired by applicable law, Trustee shall give public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at public auction to the tughest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designce may purchase the Property at any sale. If the Lender's interest in this S�urity Instrument is held by the Secretary and the Secretary requires immediate payment in full under Paragraph 9, the Secretary may invoke the nonjudicial po�ver of sale provided in the Single Family Mortgage Foreclosure Ad of 1994 ("Act") (12 U.S.C. 3751 et seq.) by reqaesting a foreclosure commissioner designated under the Act to commence foreclosare and to sell the Property as provided in the Act. Nothing in the preceding sentence shall deprive the Secretary of any rights otherwise available to a Lender under this Paragraph 18 or applicable law. Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Pro�rty. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and egpenses of exercising the power of sale, and the sale, including the payment of the Trustee's fces actually incurred, not to exceed 0. 0 0 0% of the principal amount of the note at the time of the declaration of default, and reasonable attorneys' fees as permitted by law; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 19. Reconveyance. Upon payment of all sums s�ured by this S�urity Instrument, Lender shall request Trustee to r�;onvey the Property and shall surrender this Security Instrument and all notes evidencing debt s�ured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. 20. Substitute Trustee. Lender, at its oprion, may from time to time remove Trustee and appoint a successor trustee to any Truste� appointefl hereunder by an instrument recordefl in the county in which this Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the ritle, power and duties conferred upon Trustee herein and by applicable law. 21. Request for Notices. Bonower requests that copies of the norices of default and sale be sent to Borrower's address which is the Property Address. 22. Riders to this Security Instrument. If one or more riders aze executed by Borrower and recordefl together with this Security Instru�nent, the covenants of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Se�urity Instrument. [Ch�k applicable box(es)] . 0 Condominium Rider 0 Growing Equity Rider � Other [specify] � Planned Unit Development Rider � Graduated Payment Rider N I F A F o r m E-1 FHA Deed of Trust-NE VMP Q Wokers Kluwer Financial Services a�ss VMP4R�NE) (0809) Page 7 of 9 �..� e0�